On the 17th, Jo Hyun-sang, vice chairman of HS HYOSUNG, met with Barna Tancos, the deputy prime minister and finance minister of Romania, at the Lotte Hotel in Sogong-dong, Seoul, to discuss improving the investment environment.
This meeting was held with the deputy prime minister of Romania and a Romanian delegation, who visited South Korea to attract investment, proposing to HS HYOSUNG, the largest domestic company in terms of investment scale in Romania.
Vice Chairman Jo and Deputy Prime Minister Barna agreed that the economic situation in surrounding countries such as Canada and Mexico is changing due to U.S. trade policy shifts and discussed the future of investment in Romania.
Deputy Prime Minister Barna expressed gratitude to HS HYOSUNG for continuing to invest more than 100 million euros (about 158.4 billion won) and creating large-scale employment amid rapidly changing global economic conditions.
Vice Chairman Jo suggested that if the investment environment improves with tax benefits and investment incentives, other domestic corporations would consider investing, thereby enhancing investment attractiveness.
HS Hyosung Advanced Materials has a subsidiary, GST, located in the central Romanian region of Sighisoara. GST produces global airbag fabrics for export to Europe and North America.
In particular, it possesses unparalleled technology in the OPW (One Piece Woven) airbag field. OPW airbags are produced using a special weaving technology that bypasses the sewing process, providing enhanced safety for passengers.